4 mistakes you should avoid in your CA journey
As you progress through your CA studies, the Institute of Chartered Accountants of India (ICAI) will expect you to behave professionally at all times. Yes, there is pressure to study for examinations, finish training, and deal with a variety of other issues. However, you cannot succumb to them and afford to make the most egregious errors of your career while putting up a CA final preparation strategy in place.
These common mistakes separate the CA top scorers, CA passers, and CA repeaters. If you want to do well on the CA final exam and not have any regrets, you need to know how to avoid making these mistakes.
The following are four common blunders that aspiring CAs make:
- One common blunder made by CA students is blindly following the actions of their peers. Some people enrol in the course because one of their friends or a member of their family has already completed it. Students often stick with those they know and trust during articleships and internships. If you do this, you will have fewer opportunities to engage with other people. Students who only train with people they already know are much less likely to learn anything new.
- Dummy Articleship– Never ever do this. The article
phase of a Chartered Accountant's career is the most
crucial. This time in a CA student's education is often
referred to as "the golden years." Practical Knowledge
is important as much as studying the books or even more
important. There is a strong emphasis on practical
knowledge in CA exams, especially in Auditing and
Direct Tax. You can't learn this stuff from books if
you had a dummy education.
Maintain a consistent schedule of article production. Your growth will be greatly influenced by the three years you spend as an articled clerk. Try to get as much work experience and education as you can. Keep in mind the importance of a well-thought-out plan for balancing your study time with other commitments. If you study in a quiet place, make and stick to a study schedule, make time for review, and keep your cool under pressure, you will succeed on the exam. - Ignoring the ICAI Practice Manual-As and when you are completed with a chapter. Get going on your practise with the manual's sample questions. You must have completed the questions given in your compilers provided by the CA coaching but still you should go through the practise manual provided by the ICAI. You'll get plenty of question practise, and you'll get some good ideas for presentations, too. It is clear from prior attempts that more than half of the AMA paper will be devoted to topics found in the guidelines. In addition to an online resource, the SFM practise manual provides extensive paper coverage of financial reporting. A thorough understanding of auditing, forensics, information and data technology, law, and information systems control and assurance (ISCA) will go a long way toward ensuring your exam success. In no way am I suggesting that you read all of the provided readings, RTPs, MTPs, or even 8-10 sample papers. Not everyone will be able to do it. Do nothing more than read the how-to guides.
- It's unclear whether you belong in the Single or Both category; it all depends on your abilities. As much as you can take, for as long as you still have it. Nobody but yourself can provide an accurate assessment of your character and motivations. Many times it happens that students after getting leaves for their final exams start preparation for both groups even if they had not completed it before and shift to single group just a month before the exams. Taking the advices that 2 months are enough for one group. However, this is not the case; in order to qualify for leaves, students must have completed the course at least once and be down to the revision stage. Perhaps they are the rare students who have managed to finish the whole course in such a short time. There is no way to make this possible for every student. Decide if you have the time and energy to tackle both groups, and if not, dive headfirst into one. Without a doubt, you will succeed in passing this test.
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